Holiday Gifts That Cost Next to Nothing

With the holidays coming up, and the economy dragging down, many gift-givers are fretting about the cost of presents. There's no need to worry, though, as long as you're willing to be a bit creative. Here are a few ways to give a meaningful, valuable gift for next to nothing.

Give away your frequent-flier miles: You can't do much better than giving someone a vacation. If you've racked up enough frequent-flier points, you might be able to do so for free. Swap your miles for a ticket to a destination you know your family member or friend will enjoy, or transfer your points into their frequent-flier account. You usually need at least 25,000 miles for a round-trip ticket. If you don't have that many, you can still offer what you've got as a down payment on a future vacation. Or use your points to pay for a hotel room at a vacation destination within driving distance.

Make a mix CD: A customized mix of some of your favorite songs is a quick and easy gift. Introduce the recipient to a group or artist you think they'll like. Select specific tracks by theme, time period or genre. ...